FX:GBPAUD   British Pound/Australian Dollar
51 6 0
Already completed. Second chance entry possible as long as T1 is not hit.
Hi. After the completion of the bat, what determines the target range? Is that a fib projection or something else?
Also, can you recommend a bat technique book/author?
Thanks a lot.
Reply
Aqua-Life johnrfraser
I assume you mean Gartley; I personally use fib. retracements for profit taking. 38,2 for T1 and 50% for T2.
If you want to know more about advanced patterns, and how to trade them, I suggest you take a look at the youtube channel of Akil Stokes from Trade Empowered.
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johnrfraser Aqua-Life
Thanks a lot. Yes, everyone around here seems to call them bats :-/
Interesting. Nice simple target approach.
Thanks a lot.
Reply
Aqua-Life johnrfraser
Well, there is a big difference between a Bat and a Gartley. Especially when they are valid and where the optimal place is to enter these patterns. But i'm sure you will learn all of that on the youtube page I suggested. Note that these are my !personal! target approaches.
Reply
johnrfraser Aqua-Life
Sure, thanks a lot.
I don't trade forex. Just saw a nice neat, simple chart so wanted to inquire.
I'd no idea Bats were not Gartleys...v interesting.
This will be next on my book list...
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went very good, congrats :)
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